Nifty Futures Trading

[Smart_trade]

Now 4465.90 area can provide Support.

Tulika,

I am not a Gr8 believer of EW,however any correction after an impulse ;here we are talikng about W4 which always retraces a significant portion,but the rule for W4 is it should never come below or at W1 level's High.

Asish

Also the third wave looks too short to be called a third wave. We are in still in corrective wave it appears.

 

[mitasatyajit]

Lunch break for at least 3 - 4 hours. Not to do anything today. Let me go office.

 

[uasish]

so what is the position that we should take now?

The position is always taken towards Trend as per Saint's guideline.
The Caveat here is We know ONLY Smart Money can Reverse a Trend & we also know that Smart Money Sells at Strenght & Buy in Weakness,(plz go through Karthik's Thread) hence when in Trend we have to be Alert.

 

[Smart_trade]

Crude cossed 117.

 

[uasish]

I am Short from 4490,as the High vol bar of 1.30 (in a 10 min chart) seems to me as an Upthurst Bar ,(refer karthik's thread in advance section).
Stop = 4502.05 (the high of that bar).

 

[uasish]

Covering 50 % @ 4478.00

 

[uasish]

Stop brought down to Entry.

 

[uasish]

As 4465.90 can give support will try to exit 25 % there.

 

[myvineet]

I am Short from 4490,as the High vol bar of 1.30 (in a 10 min chart) seems to me as an Upthurst Bar ,(refer karthik's thread in advance section).
Stop = 4502.05 (the high of that bar).

asish da is refering to this thread

http://www.traderji.com/advanced-trading-strategies/23128-volume-spread-analysis.html

regards

 

[uasish]

Covered @ 4483.00